The rain continues falling here in California … It just keeps coming …
The article I posted two days ago and yesterday is still receiving comments, which is good, and so much in those comments is good, but unless you go there and read them, you won’t know how good they are. Today, though, I want to excerpt one part of one comment because it resonates on a level of which everyone should be aware—personal responsibility …
The real solution is to take responsibility for your own trading. You’re the only one who can come up with trading ideas and strategies. I used to listen to other traders and the talking heads on CNBC and would consistently lost money.
I have spoken to this before, and I still receive questions today asking what I think this stock or commodity will do tomorrow, or how will the euro fare against the dollar this week, or what system do I use.
The gentleman who made the comment above is absolutely on target, and I thank him for both his words and his willingness to share them. You cannot trade on someone else’s back. If you think joining some “winners” club, getting a “can’t miss” newsletter, or buying into a “sure-fire” winning trading system, will get you where you want to go, you shouldn’t be trading. Yes, joining a club of folks interested in discussing trading ideas is helpful and signing up for an informative, analytical newsletter is a good idea, and some trading systems work to a degree, but 99% of the time, successful trading is about you, about what you know, and about how you approach the whole deal. You … You … You …
So take personal responsibility for your trading. Own it and work it. Once you do this, you will see what so many of us already see, and that is that the folks out there telling you they have found “it,” the easy path to riches, are going after weakness. If you look closely at these folks, not only will you see their predatory nature, but, and even more disturbing, you will see a trail of folks wandering behind them in the haze of “what happened to my money?”
The rain continues falling …
Trade in the day; invest in your life
